Legal Question in Business Law in India
Partnership Act
Can a person gift his stake in a partnership firm to his cousin?
Asked on 7/18/08, 12:40 pm
3 Answers from Attorneys
Manish Dhingra
Legal
Re: Partnership Act
Depends upon the terms and conditions of the partnership deed.
Answered on 7/18/08, 3:39 pm
Aniruddha Pawse
Aniruddha.P.Pawse Advocates
Re: Partnership Act
only if the other partners consent to it or there is a clause to that effect in partnership agreement
Answered on 7/21/08, 1:56 am
Daya Krishan Sharma
D.K.Sharma & Co.(Advocates, Supreme Court)
Re: Partnership Act
yes you can gift it provided the other partners have no objection to it. If the other partners raises an objection, then you have to see the nature of the objection and it will depend upon the provisions of the partnership act.
Answered on 7/20/08, 8:57 am
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